Representatives of China and the US ended a two-day round of talks on mutual trade on Friday night without a major shift. Business dispute between the two largest economies in the world has disturbed the financial markets and has disrupted global trade, AP said. Negotiations in Washington were conducted only by lower government officials, and a more pronounced breakthrough was not expected.
Delegations have exchanged views on how to achieve justice, equity and reciprocity in economic relations, White House spokesman Lindsay Walters said. She did not communicate anything closer to the meeting.
The Chinese Ministry of Commerce said in a short statement that both sides had a constructive and open exchange of views on trade issues and would remain in touch.
The Chinese delegation was led by Deputy Minister of Commerce Wang Shouwen, led by the Deputy Minister of Finance for International Affairs David Malpass.
Lower batching
The new round of talks was the first since the beginning of June, when US Secretary of Commerce Wilbur Ross and Chinese Deputy Prime Minister Liou Che met in Beijing. It took place as soon as the new customs duties came into force.
According to Reuters, analysts considered the fact that further negotiations were positive. On the other hand, they could not be expected to make too much progress or even a breakthrough. The reason is that the talks were led by lower government officials, not by the heads of ministries themselves.
"It suggests that both parties are still distant, and reaching an agreement is unlikely in the event of this visit," said Jonas Short, head of Beijing Everbright Sun Hung Kai's investment bank branch.
The commercial war is continuing
On Thursday, Washington began to apply a new tariff of 25 percent to imports of $ 16 billion ($ 356 billion) of additional Chinese goods. Beijing has, at the same time, imposed a similar duty on US goods.
The US-led trade war between the two countries began with a 25 percent tariff on Chinese goods worth $ 34 billion ($ 751 billion). In response, China introduced the same amount of duty on the same volume of US goods.
